Each location will employ roughly 150 people. The grocer currently has 280 locations in 15 states.

Sprouts has some serious competition with Whole Foods Market since it was acquired by Amazon.com (NASDAQ: AMZN), and the e-commerce giant slashed Whole Foods' prices near the end of August. At that same time, Sprouts' stock price dropped in 10 days from $21.44 on Aug. 18 to $19.72 on Aug. 28.

Sprouts' shares are currently up 1.24 percent at $18.76 at time of publication.